Hi there, it’s Ash, aka the Still Life Nomad! Today I am going to do a comparison of New Zealand banks, which is vital to know if you are going to be working in NZ as employers rarely pay out to foreign banks. Keep an eye out for my next post on getting an IRD number, also necessary for work. Let’s get into it!

ANZ

ANZ (pronounced A-N-Zed) is one of the main banks of Australia and New Zealand. Serving over 10 million customers worldwide and located in 34 countries, this is a solid option.

This bank offers all the basic services such as bank accounts, loans, credit cards, insurance, and investments along with business banking. The personal accounts offer a plethora of options perfect for every individual! You can even open an account before moving to NZ. This is my top recommendation tied with BNZ.

BNZ

BNZ (pronounced B-N-Zed) is another one of the top banks in New Zealand. They serve over 1.2 million customers. It is a subsidiary of NAB in Australia. Services range from savings and transaction accounts, loans, credit cards, investments, insurances, and business accounts like ANZ. I would consider this tied with ANZ on quality. You can also apply before moving!

Westpac New Zealand

Another leading bank in Australia and NZ is Westpac Banking Corporation. With 13 million clients globally, 1.5 of those being in NZ, this is another great option. They offer customer banking, loans, credit cards, business banking, and more. This would be my third recommendation, just because ANZ and BNZ are known to have more user-friendly apps. You can also apply to Westpac before you move!

The Co-Operative Bank

The Co-Operative Bank is a NZ-based bank and operates as a customer-owned cooperative. They serve 182,000 customers across New Zealand and have no other country locations. They offer all the same services as the other banks, however, seem to not let you open up an account prior to moving. Due to this, it is my fifth and last recommendation but good if you want a NZ-based bank.

Kiwibank

Finally, this list will cover Kiwibank, another NZ-based banking option. It is the newest of these banks, formed in 2001. They serve over 1 million customers in NZ and do not have any international locations. Like the others, they offer all the same services and you can open an account before you move. Due to this, I will make it the fourth recommendation. It does not rank higher as it lacks Australian branches, making you have to open another bank account if you do a working holiday visa over there.

Closing

If you plan to do a working holiday visa in both Australia and New Zealand, then ANZ is absolutely my top recommendation. If you want a NZ-owned bank, then I suggest Westpac or Kiwibank. However, any of the banks on my list are great options and most of them allow you to open an account before you move, making the transition easier!

What bank do you prefer?

Love,

Ash